8 Pitfalls of Accounts Payable Automation

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5 Νοε 2013 (πριν από 3 χρόνια και 9 μήνες)

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8 Pitfalls of Accounts Payable
Automation

Christopher Elmore



Secrets
to a Successful Accounts Payable Automation

Agenda


The 8 Pitfalls of AP Automation


What is Automation


How to Stay Out of the Pit…. Everyone Loves a
Good Spreadsheet


(but first)…. A Story


DOES THIS SOUND FAMILIAR

….a little story

The List


Run and send GL Report


Print GL Report


Get GL Report to person for meeting


Find out if Check has been cut and sent to an old employee


Email response back to HR on status of the check


Check invoice from CEO for approval and validity


Enter invoice for CEO


Do special check run for CEO


Report back to CEO that the invoice was entered and the check was sent


Fix the printer


Find out from your boss if IT should have fixed the printer.


Talk to IT about their service to the accounting department (in a non
-
threatening way)


Try to get over the paranoia of confronting IT


Research the $7.52 invoice


Call the vendor back on the status of the $7.52 invoice


Explain to the vendor that you are not the right person to call the next time they have a question about payment


Enter the daily stack of invoices into the AP system


Match and file invoices that were cut
yesterday

The 8

1.
Know Your Environment

2.
Selecting a Service
Provider

3.
Getting Organized

4.
The Project

5.
Training and Going Live

6.
Communicating with Vendors

7.
The Evaluation

8.
The
Future

WHAT IS AUTOMATION?

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Paper Process


Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Automated Process


DETERMINE YOUR COST PER
INVOICE

CPI


How to Stay Out
of the Pit!

Step 1: Map

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Step 2: People

6

3

12

2

2

2

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Step 3: Time

35

4
5

60

75

4
0

22

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Step 4: Money

$

$

$

$

$

$

Step 5: Determine CPI


Total Co$t

Total Invoices

=

CPI

CPI


What do you think
your
CPI
is?

Invoice

Open Mail

Route Mail

Code

Approve

Accounting
System Entry


Promote to GL

Check

Invoice Filed

Research

Have a Plan


60

35

45

75

40

22

BACK TO OUR STORY

The List


Run and send GL Report


Print GL Report


Get GL Report to person for meeting


Find out if Check has been cut and sent to an old employee


Email response back to HR on status of the check


Check invoice from CEO for approval and validity


Enter invoice for CEO


Do special check run for CEO


Report back to CEO that the invoice was entered and the check was sent


Fix the printer


Find out from your boss if IT should have fixed the printer.


Talk to IT about their service to the accounting department (in a non
-
threatening way)


Try to get over the paranoia of confronting IT


Research the $7.52 invoice


Call the vendor back on the status of the $7.52 invoice


Explain to the vendor that you are not the right person to call the next time they have a question about payment


Enter the daily stack of invoices into the AP system


Match and file invoices that were cut
yesterday

The List


Run and send GL Report


Print GL Report


Get GL Report to person for meeting


Find
out if Check has been cut and sent to an old employee



Email
response back to HR on status of the check

-
.


Check invoice from CEO for approval and validity





Enter invoice for CEO





Do
special check run for CEO


.


Report back to CEO that the invoice was entered and the check was sent
.




Fix the printer



Find
out from your boss if IT should have fixed the printer.



Talk
to IT about their service to the accounting department (in a non
-
threatening way)



Try
to get over the paranoia of confronting IT


Research
a $7.52 invoice





Call
the vendor back on the status of the $7.52 invoice




Explain
to the vendor that you are not the right person to call the next time they have a question
.




Enter
daily stack of invoice into the AP system




Match
and file invoices that were cut yesterday





Learn More About CPI Analysis

To get your copy of
The 8 Pitfalls of
Accounts Payable
Automation
and/or Argument to Automate


Go
to:
www.costperinvoice.com


Contact me:

celmore@avidxchange.com